Colibri Real Estate Final Exam | Real UPDATED ACTUAL Exam
Questions and CORRECT Answers | Graded A+
Question 1.
net lease .
Answer: buyer pays rent and other expenses
Question 2.
gross lease .
Answer: buyer pays only rent
Question 3.
goes to heirs .
Answer: Tenants in common, 2 of 3 people die. Who gets the property of those
who died?
Question 4.
Tenant owns it in severality .
Answer: Joint Tenancy, 3 of 4 people die. Who gets property of those who
died?
Question 5.
Client .
Answer: Another word for principal
Question 6.
race, nat. origin, sex, color, religion, disability, familial status .
Answer: Protected by Fair Housing Act
Question 7.
marital status .
Answer: Not protected by Fair Housing Act
Question 8.
Blockbusting .
Answer: telling homeowners that property values will be declining because of
ethical/racial makeup is changing
, ‣ flat, paved parking lot . Answer: real estate put to its highest use
Question 9.
puffing .
Answer: "This is the most prestigious street in town"
Question 10.
$5,000 .
Answer: maximum fine for first offense
Question 11.
name and broker .
Answer: an individual advertisement needs...
Question 12.
statement that they are licensed .
Answer: a brokerage advertisement needs...
Question 13.
48 hours .
Answer: if listing is submitted to MLS, must notify customer within...
Question 14.
at their next meeting .
Answer: Licensee must deliver Consumer Info Statement when...
Question 15.
blanket mortgage .
Answer: a mortgage that covers 2 parcels of land
Question 16.
tenancy at sufference .
Answer: lease expires, tenants won't leave
Questions and CORRECT Answers | Graded A+
Question 1.
net lease .
Answer: buyer pays rent and other expenses
Question 2.
gross lease .
Answer: buyer pays only rent
Question 3.
goes to heirs .
Answer: Tenants in common, 2 of 3 people die. Who gets the property of those
who died?
Question 4.
Tenant owns it in severality .
Answer: Joint Tenancy, 3 of 4 people die. Who gets property of those who
died?
Question 5.
Client .
Answer: Another word for principal
Question 6.
race, nat. origin, sex, color, religion, disability, familial status .
Answer: Protected by Fair Housing Act
Question 7.
marital status .
Answer: Not protected by Fair Housing Act
Question 8.
Blockbusting .
Answer: telling homeowners that property values will be declining because of
ethical/racial makeup is changing
, ‣ flat, paved parking lot . Answer: real estate put to its highest use
Question 9.
puffing .
Answer: "This is the most prestigious street in town"
Question 10.
$5,000 .
Answer: maximum fine for first offense
Question 11.
name and broker .
Answer: an individual advertisement needs...
Question 12.
statement that they are licensed .
Answer: a brokerage advertisement needs...
Question 13.
48 hours .
Answer: if listing is submitted to MLS, must notify customer within...
Question 14.
at their next meeting .
Answer: Licensee must deliver Consumer Info Statement when...
Question 15.
blanket mortgage .
Answer: a mortgage that covers 2 parcels of land
Question 16.
tenancy at sufference .
Answer: lease expires, tenants won't leave
